Forbright, Inc.’s (NASDAQ:FRBT) Quiet Period To End Tomorrow

Forbright’s (NASDAQ:FRBT) quiet period is set to end on Tuesday, July 21st. Forbright had issued 7,900,000 shares in its public offering on June 11th. The total size of the offering was $142,200,000 based on an initial share price of $18.00. During the company’s quiet period, underwriters and any insiders involved in the IPO are restricted from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FRBT. JPMorgan Chase & Co. assumed coverage on shares of Forbright in a research note on Monday, July 6th. They set a “neutral” rating and a $21.00 target price on the stock. Piper Sandler began coverage on Forbright in a research report on Monday, July 6th. They issued a “neutral” rating and a $21.50 target price for the company. Wall Street Zen upgraded Forbright from a “sell” rating to a “hold” rating in a report on Monday. Wells Fargo & Company assumed coverage on Forbright in a research report on Monday, July 6th. They set an “overweight” rating and a $21.00 price target on the stock. Finally, TD Cowen assumed coverage on Forbright in a research note on Monday, July 6th. They issued a “buy” rating for the company. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Forbright Stock Performance

Forbright stock opened at $19.05 on Monday. Forbright has a twelve month low of $17.48 and a twelve month high of $22.00.